Completion of the divestiture of the Mt Henry-Selene Gold Project

The total compensation increases to $110 million² through strategic shareholding in Alicanto

Westgold Resources Limited (ASX: WGX,OTC:WGXRF) (TSX: WGX) (Westgold or the Company) is pleased to announce the completion of the divestment of the Mt Henry-Selene Gold Project (Mt Henry) to Alicanto Minerals Limited (ASX: AQI) (Alicanto) (the Transaction).

Westgold notes that the total value of the consideration for Mt Henry has increased from the previously announced $64.6 million¹ up to $110 million²which reflects the increase in the value of Westgold’s 19.9% stake in Alicanto since the transaction was announced on December 17, 2025.

The transaction supports Westgold’s strategy to simplify our extensive portfolio and realize value for our shareholders from non-core and non-operating assets.

Westgold Managing Director and CEO Wayne Bramwell commented:
“The transaction with Alicanto unlocks value for Westgold shareholders from assets not within our three-year outlook. Alicanto plans to commence a substantial 50,000 m multi-rig drill program at Mt Henry^³ and Westgold will participate in the resulting exploration success as a major shareholder of Alicanto.

Westgold’s portfolio of mineral assets remains large. The plan to simplify this portfolio continues with the progressive divestment of our Peak Hill and Chalice gold assets and the initial public offering of Valiant Gold (proposed ASX code: VAL), targeting a listing by the end of March 2026.

Once completed, these transactions will complete the rationalization of our portfolio.”

Advisors
Argonaut acted as financial advisor and Thomson Geer as legal advisor to Westgold in connection with the Transaction.

This announcement has been approved by the Board for release to the ASX.

¹	See WGX ASX announcement dated December 17, 2025 – Mt Henry-Selene Gold Project sold for $64.6 million.
²	Based on Alicanto’s share price of $2.02 as of February 13, 2026 close.
³	See AQI ASX announcement dated December 17, 2025 – Acquisition of Mt Henry Gold Project and Capital Raising.